Navicore Solutions Inc

Analysis

Navicore Solutions Inc is a registered charity in United States, based in Manalapan, NJ. It received its IRS tax-exemption ruling in August 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Navicore Solutions Inc reported income of $15.1m and spending of $14.9m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.6m to $15.1m (+30%), an average of +6.8% a year. The sharpest change came in the year to December 2021, when income rose by 24%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Navicore Solutions Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include Marillac St Vincent Family Services Inc ($15.0m), Overland Missions Inc ($15.1m) and Ramey-Estep Homes Inc ($15.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $1.3m (8.5% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $13.8m against liabilities of $8.4m, net assets of $5.3m. It reported 214 employees.